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Hybridization in Retail

In the first module of omnichannel retail, Ady explores what Hybridization means in the retail landscape and how it's being used to fuel successful retailers today. In order to capture the attention of shoppers from all generations, retailers need to combine online and offline platforms to create seamless shopping systems. It's no longer enough to offer just one single platform, or even two; brands need retail hybridization that binds together apps, brick-and-mortar establishments, e-commerce, beacon technology and everything in between in order to reach the masses.

In this module, you'll learn about what trends are being used to create these interchangeable platforms and allow consumers to experience the best of online and offline shopping as one.

Brands are displaying products outside the store setting as a fun retreat

Implications - As consumers seek out retail experiences that go beyond simple product purchasing, brands are taking note by setting up showrooms and product displays that take place in alternative settings, specifically environments that offer rest and relaxation. Offering consumers hotel rooms and apartment units that integrate the brand’s product lines, retailers are allowing consumers to experience what enjoying their products would be like in real-world settings.

Workshop Question - How could you integrate your brand and products into adjacent markets and businesses?

Implications - Years ago, online retailers took the traditional market by storm, upending the brick-and-mortar sales model. Since then, brick-and-mortar retailers have responded by providing consumers with experiences they can't get online. The process has now come full circle, as e-commerce brands recognize the unique appeal of physical stores and thus offer online experiences that mimic brick-and-mortar shopping. While evolution is natural in any industry, brands that search out and recognize the value behind traditional techniques can further improve their modern operations.

Workshop Question - What is the most appealing aspect of the traditional marketing techniques in your industry? How could you adapt that technique to suit your modern day practices?

Trend - Hotel brands are creating the image of luxury with the adoption of minimalism in design, but maintaining relatively affordable pricing for their rooms. As consumers seek out distinct luxe experiences–including in travel–hospitality brands are having to match their preferences in a way that doesn't isolate those who cannot afford extravagant luxury vacations.

Workshop Question - How could your brand enhance the appearance of luxury while still offering accessible products/services?

Trend - As more consumers turn to their phones to store their shopping lists, brands take this a step further with organization apps and predictive list-makers. New platforms that leverage AI, smart technology and voice-assistive tools make it easier than ever for consumers to keep track of what they need when they're shopping—it can even help navigate physical stores.

Workshop Question - How can you leverage smart brick-and-mortar technology to ease consumers' path to purchase?

Trend - Brands within the cosmetic and skincare space are adopting artificially intelligent capabilities into their retail spaces in order to better personalize the experience of their customers. This shift speaks to the increasingly deliberate and customized nature of self-care.

Businesses focus on providing a multitude of products and services in one place

Implications - Brands are taking the one-stop-shop format to the next level by offering consumers easier ways to plan, access and complete all their necessary shopping needs in one go. Tapping in-store offerings as well as online apps, brands are realizing the importance of convenience when it comes to consumer experiences, and with that, are combining often different experiences to become one unique activity. From retail destinations that give you all your wedding necessities to branded apps that combine online loyalty programs with in-store functionalities, these examples not only offer convenience, but speaks to the growing desire for customized experiences among consumers.

Workshop Question - In what ways could your brand customize your product or service experience to be more convenient and aligned to their needs and rituals?

Trend - Combining the in-person purchase journey with the comfort of ordering from home, retailers are incorporating shoppable VR ads and videos into their campaigns. For the most part, these unique campaigns are testing the functionality and potential of purchasing via virtual reality.

Workshop Question - Conceptualize a shoppable VR platform that your customers could use in their homes.

Implications - Some brick-and-mortar retail spaces no longer require that customers test out clothes before they purchase, as mirrors, VR and AR tech are allowing for shoppers to see what the items would look like on them without having to actually try them on. Such tools allow for brands to offer enhance the purchase journey via novelty and personalization.

Workshop Question - Conceptualize an AR/VR tool that your brand could use in an app, in-store, or in its product/service.